International Petroleum (TSE:IPCO) Reaches New 52-Week High - Here's Why

Key Points

• International Petroleum hit a new 52-week high of C$33.72 (last C$33.64) on Thursday, trading well above the consensus analyst target of C$26.50 even after broker target raises to C$26–27 and "sector perform"/Hold ratings.
• The company shows an elevated valuation (market cap C$3.75B, P/E ~133.8) and weak recent results (Q EPS of C($0.05) on C$231.7M revenue), while insider activity — a director bought 20,000 shares and insiders own 35.6% — signals management confidence.

International Petroleum Co. (TSE:IPCO - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as C$33.72 and last traded at C$33.64, with a volume of 83111 shares changing hands. The stock had previously closed at C$33.00.

Analysts Set New Price Targets

A number of brokerages have weighed in on IPCO. Scotiabank lifted their target price on International Petroleum from C$24.00 to C$26.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 20th. Royal Bank Of Canada raised their target price on shares of International Petroleum from C$25.00 to C$27.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, International Petroleum presently has an average rating of "Hold" and a consensus target price of C$26.50.

International Petroleum Price Performance

The stock has a market cap of C$3.75 billion, a price-to-earnings ratio of 133.76 and a beta of 0.83. The stock has a fifty day simple moving average of C$27.82 and a 200-day simple moving average of C$25.68. The company has a current ratio of 0.81, a quick ratio of 3.93 and a debt-to-equity ratio of 52.52.

International Petroleum (TSE:IPCO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C($0.05) earnings per share (EPS) for the quarter. International Petroleum had a return on equity of 3.12% and a net margin of 3.90%.The company had revenue of C$231.73 million during the quarter. As a group, equities research analysts expect that International Petroleum Co. will post 0.1677866 EPS for the current year.

Insider Transactions at International Petroleum

In other news, Director William A.W. Lundin acquired 20,000 shares of International Petroleum stock in a transaction on Thursday, December 18th. The stock was bought at an average price of C$24.26 per share, for a total transaction of C$485,200.00. Following the transaction, the director owned 822,202 shares of the company's stock, valued at C$19,946,620.52. The trade was a 2.49% increase in their ownership of the stock. 35.60% of the stock is owned by corporate insiders.

About International Petroleum

International Petroleum Corp is an international oil and gas exploration and production company. It is engaged in the exploration, development, and production of oil and gas. Geographically, the company holds a portfolio of oil and gas production assets and development projects in Canada, Malaysia and France. It is based in Canada and derives revenue from the sales of gas, crude oil, and natural gas liquids, of which key revenue is derived from the sales of crude oil.

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